Crypto Fear & Greed Index drops to 16, signaling continued extreme fear

The Crypto Fear & Greed Index from data provider Alternative has fallen five points from the previous day to 16, maintaining the market's state of extreme fear. The index measures market sentiment, where a value closer to zero indicates extreme fear and a value closer to 100 signifies extreme optimism. It is calculated based on several factors: volatility (25%), trading volume (25%), social media mentions (15%), surveys (15%), Bitcoin's market cap dominance (10%), and Google search volume (10%).